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That was an increase of 33.4% over the prior quarter which was negative 35% due to the pandemic so not much of an accomplishment. Never broke 3% annual under Trump, remember when they passed the 2017 Tax cut and the economy was going to take off, Trump and Kudlow were claiming 4 or 5%.
I do indeed remember the claims that the trickle down tax cuts would boost economic growth to 4%, 5%, "even 6%."
Sadly, as it turns out, it's demand that drives an economy, not supply.
It gets a bit trickier when you ask, what policy or policies of Biden will cause the growth. The answer is no policy. The projected growth is about the same as it would have been had Trump won. A huge part of the growth is the return of business from the pandemic drop. Continuing problems with the pandemic in Europe and Asia may be adding to the growth projections.
But you can seldom look at any one reason for an expansion or contraction. 2020 is one of those exceptions where the contraction was obviously a result of the lockdowns.
And remember that projections are just that. If Biden gets his capital gains tax and corporate taxes through and all the spending he wants, I'd shave 200 basis points, maybe more, off that projected growth.
I would expect that the stimulus had an impact as does the pending infrastructure spending looking ahead.
Trump got credit in 2017 for lower unemployment and a rising stock market that had been moving in that direction for 8 years when he took office, the GDP was never much above 2% even prior to the pandemic. But I do agree that coming out of the pandemic has an impact.
I would expect that the stimulus had an impact as does the pending infrastructure spending looking ahead.
Trump got credit in 2017 for lower unemployment and a rising stock market that had been moving in that direction for 8 years when he took office, the GDP was never much above 2% even prior to the pandemic. But I do agree that coming out of the pandemic has an impact.
Yup Trump took credit for cumulative impact of 7 years of job growth before he took office.....but if you remember, conservatives told us our economy was in a shambles. They refused to acknowledge the 7 years of recovery until they got a Republican in office.
Kudos to Trump -- he didn't screw up the recovery and it went 10 years before the pandemic crisis.
I look at it the same way. I think a President can't really be held responsible OR take credit until about a year into his or her term. So much is on autopilot.
And really, it's Congress that should be held responsible. But we all collectively seem hung up on blaming the President for tax cuts or increases or general economic conditions.
The president is nothing more than a figurehead used to shield Congress from backlash when they pass stupid legislation.
I told you the other day that CEO confidence was the highest in 17 years. Projections of GDP growth in 2021 and even into 2022 confirm the reason for that optimism. While it's early and these projections will certainly change, as of right now there is a lot of reason for optimism.
Unless, of course, you're a Biden-hating conservative.
Heads exploding? Yea, from laughing at you. OMG, the country is opening up, people are going back to work and they need or want a newer car....I Know that boggles the mind for the left...
Oh, and nice pay wall, so nobody can dispute what you say, because they cannot read it.
April 15, 2021 - The U.S. housing market is 3.8 million single-family homes short of what is needed to meet the country’s demand, according to a new analysis by mortgage-finance company Freddie Mac .
The estimate represents a 52% rise in the nation’s home shortage compared with 2018, the first time Freddie Mac quantified the shortfall.
The figures underscore the severity of the housing deficit, which is a major factor fueling the current red-hot housing market. The shortage is especially acute for entry-level homes, which makes it more expensive for first-time home buyers to enter the market, said Sam Khater, chief economist at Freddie Mac.
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